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SAN JOSE, Calif. - NETGEAR , Inc. (NASDAQ: NASDAQ:NTGR), a global networking technology company valued at approximately $790 million, has unveiled the Orbi 870 Series Mesh System, expanding its range of WiFi 7 mesh networking solutions. According to InvestingPro analysis, NETGEAR maintains a "GOOD" financial health score, with strong cash flow management and solid balance sheet metrics. The new Orbi 870 is engineered to cater to large homes needing multi-gig speeds and advanced security features. It joins the existing Orbi 770 and Orbi 970 series, offering consumers varying levels of performance and coverage.
The Orbi 870 is designed to support a smooth and fast online experience for activities such as streaming ultra-high-definition content, remote work, and gaming. This product launch comes as NETGEAR faces revenue headwinds, with InvestingPro data showing a 15% year-over-year revenue decline in the last twelve months. Despite these challenges, the company maintains strong liquidity with a healthy current ratio of 2.84. It boasts the ability to handle up to 150 connected devices with reduced latency and high speeds. NETGEAR's Advanced Router Protection provides router security with automatic updates to guard against cyber threats.
Technical specifications of the Orbi 870 include WiFi 7 Tri-Band speeds up to 21 Gbps and support for enhancements like 320 MHz, 4K QAM, and Multi-Link Operation (MLO). The system also features a 10 Gig internet port and multiple 2.5Gbps Ethernet ports on both the router and satellites. The Orbi App allows users to manage their network remotely, including features like internet pausing and speed tests.
NETGEAR emphasizes the system's security credentials, with encryption protocols, advanced threat detection, and features like VPN support and WPA3 security. The Orbi 870 series also introduces NETGEAR’s Advanced Router Protection, leveraging AI and advanced exploit prevention to secure the router. Additionally, a 30-day trial of NETGEAR Armor™ Powered by Bitdefender™ offers another layer of security.
For families, the Orbi 870 comes with NETGEAR Smart Parental Controls™, with a Premium Plan available by subscription.
The Orbi 870 is now available for purchase in black or white through NETGEAR's website and other major retailers. Pricing for the 3-pack is set at $1,299.99 MSRP, with the 2-pack and add-on satellite options also available. NETGEAR's stock has shown remarkable momentum, delivering nearly 95% returns over the past year. For deeper insights into NETGEAR's financial health and growth prospects, including 12 additional ProTips and comprehensive valuation analysis, visit InvestingPro.
This announcement is based on a press release statement from NETGEAR, Inc., and provides a factual account of the company's latest product launch without endorsement of claims.
In other recent news, NETGEAR Inc. has been in the spotlight due to a potential ban on rival TP-Link routers in the U.S. The U.S. authorities' investigation into TP-Link over national security concerns has led to a surge in NETGEAR's stock. The potential ban, driven by concerns over TP-Link's routers being linked to cyberattacks and security flaws, could disrupt TP-Link's market dominance and benefit competitors like NETGEAR.
Continuing with recent developments, NETGEAR reported a sequential revenue increase of 27.1% to $182.9 million in its Q3 2024 financial results, despite a year-over-year decrease of 7.6%. The company exceeded its revenue guidance, returned to profitability, and reported a significant growth in its recurring revenue subscribers, which now stand at 555,000. The company's management highlighted a strategic transformation focusing on intelligent solutions and cybersecurity.
NETGEAR's ProAV business grew over 10%, and the company launched the M7 Pro mobile hotspot, combining 5G and WiFi 7. The company also plans to be active in stock repurchases, given its strong cash position of approximately $396 million. Looking ahead, NETGEAR expects Q4 2024 revenue to range from $160 million to $175 million.
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